The UK’s recently-published Financial Services Bill includes amongst its many aspects a provision which would amend time-limits in respect of actions that the Financial Services Authority can bring against individuals.

Public short-selling disclosure requirements ("public SSDR") will reduce short-selling in the equity markets and have "detrimental impacts" upon them by withdrawing valuable liquidity, according to a report sponsored by the Managed Funds Association.

The Directive on Alternative Investment Funds, as currently drafted, will have a damaging effect on the UK and EU hedge fund industries and should not be supported by the UK government, a House of Lords Committee has said.

Hot on the heels of Irish legislation to facilitate redomiciliation (as reported in last month’s Hedgeline) the Malta Financial Services Authority of Malta has published its own guidelines for the redomiciliation of offshore funds on 8 January.

The Securities and Exchange Commission announced on 11 January that it had charged two Florida based investment advisers misleading investors about the financial condition of three hedge funds they managed, and misrepresenting that they controlled the funds' investment and trading activities when in fact they were being handled by another party – one Arthur G. Nadel.

Galleon founder Raj Rajaratnam and former McKinsey co-director Anil Kumar face the prospect of new charges as the Securities and Exchange Commission seeks to broaden the scope of its investigation into Galleon and other entities.

On 21 January US President Barack Obama proposed, "simple common sense" reforms to the US banking system which would severely restrict the extent to which banks would be allowed to invest in hedge funds if implemented.

Switzerland’s Federal Council has released a report, (16 December), which notes that the Alternative Investment Fund Managers (AIFM) Directive as currently proposed discriminates against non-EU managers, and expressing the concern that the directive would see fund managers leaving Switzerland with repercussions for the Swiss economy.

In a letter to members, the Swiss Funds Association (SFA) argues that Switzerland needs to reach a financial services agreement with the EU to ensure its fund industry is not excluded from the EU fund management market.

A leading US hedge fund manager and six co-conspirators have been charged by the US Securities and Exchange Commission (SEC) with insider trading in what is believed to be biggest case ever brought for insider trading in the hedge fund industry.